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A New Sales Record Has Been Achieved By The Jackie Goodlet Team Who Work Out Of The Whitby Office And Specializes In High End Resale And New Home Sales. According To Broker Dave Pearce The Jackie Goodlet Team Wrote More Transactions Than Anyone Else In The 30 Year History Of Our Firm. Their 255 Transactions Had A Total Volume Of More Than $185,000,000 (185 Million). With Over 25 Years Experience In The Business The Jackie Goodlet Team Has Acquired A Wealth Of Knowledge In All Areas Of Real Estate Including Resale, New Builds, Cottages, Lease, Condos, Vacant Land, Investment And Commercial Properties. With Exceptional Negotiating Skills We Are Confident We Can Save You Time And Money On All Your Real Estate Endeavours. We Look Forward To Hearing From You And Your Referrals Are Always Welcome And Rewarded!

Wednesday, August 9, 2017

Refinancing is driver of new loans growth says CMHC

The number of new mortgages continued higher in 2016 but the share of first-time buyers slipped, CMHC says.

The crown corporation reports that there were just over 1 million new loans in 2016, a 1.4% increase from 2015. Movers accounted for 9.5% of the new mortgages with 39.6% for first-time buyers. The share of new owners was down 1.3%.

Refinance loans increased by 3.8% and CMHC says the growth in this sector in Vancouver and Toronto suggests existing owners are tapping larger amounts of home equity.

Refinancers made up 21.4% of new loans in 2016, amounting to 219,897 mortgages. Renewals of mortgages with a new lender gained 5.2% to 163,128 loans, a 15.9% share.

Multiple mortgage holders accounted for 14% of new loans.

BC and Ontario saw growth in almost all types of loans with refinances the fastest growing category. Alberta, Saskatchewan, and Newfoundland and Labrador recorded significant declines in the number of loans issued for a purchase; and Quebec saw fewer loans to new owners while owner movers grew moderately.

There were also gains for Manitoba and PEI but the other provinces all recorded fewer mortgage originations.

MBN

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